Entrepreneurship is a personality disorder

The correct model for promotion is like AA: Entrepreneurs need Sponsors

The most important thing you can do for an entrepreneur is give them a bookkeeper

Rebuttal to the business plan argument?  They are wrong, take lots of time and nobody reads them.  Two pages max...maybe a one page spreadsheet. Remember, people only read headlines

Wild mood swings

Stacking error: as in engineering...errors + errors + errors = catastrophe.  Beware using the phrase: 'Anything can go wrong'  Use: EVERYTHING can go wrong.  It's closer to the truth.

Infant mortality: even weak infections can kill a fledging startup; the Law of Small Numbers: when you're small, small things can kill you

This means that you are hypersensitive to small effectss i/e./ you want to do everything yourself instead of delegating it because the downside risk of failure is so great

It pays to be fat when when you're small, lean is only for large companies.  small copmapnies need fat to last through the small times

Intertia is the primary obstacle to success: the power of the market to continue in it's present direction is very great, lik a gyroscope

Parkinson's Law: work and attention expands to fill the time available: this means that your prospects don't have any time, resellers don't have any time, noboady has time to even evalate your proposition.  Despite the fact that it's the grastest thing since sliced bread - in your mind.  The problem is getting your message INTO their mind.

Compensation strategies: define early, adding a key person is like an organ transplant...it is usually hard and life threatening.

Passing the ball: in a start-up, you need to be able to depend on someone catching the ball and running with it.

Trials: you've got to have lots of trials (tests)

Biggest competitor is inertia, status quo, that causes whatever you want to do to take longer.  Friction consumes most energy and produces more heat than light.

Entrepreneur (vision guy) + Sales Guy + Ops Guy + 'Make it' guy

Then:

• First hire: Attorney & Tax guys: get an employment contract nailed down for everyone, IP docs, patent/TM plans
• Second hire: Branding consultant
• Third hire: HR Consultant (replacing/adding people after the first ones are in is like an organ transplant)
• Fourth hire: CFO

Scope: Leomonade stand, neighborhood, zip code, city, SMA, state, etc.

Startup 2.0: How to build a Bulletproof Startup (from Business 2.0 Magazine, proving [once again] that teaching a subject is easier than being proficient at it.  Business 2.0 Magazine is no longer published.)

Entrepreneur matrix: (Unfortunately, we only have one word to mean so many things.)

Personality Styles of Entrepreneurs:  Not all Entrepreneurs have the same DNA.

Idea Savant: Tesla, DaVinci,

Emperor: Eric Schmidt, Bill Gates, Scott McNealy, Larry Elison, Edison, Westinghouse

Mechanic: Jack Welch, Lee Iacoca, Tom Watson

Visionary: Chester Carlson (Copies In Seconds,) Bill Gates

For best results: mix & match.